Saturday, December 01, 2018

Airport Authority of India threatens to seize Sahara's Mumbai hotel

Mumbai: In yet another blow to the beleaguered Sahara Group, the Airports Authority of India (AAI) has terminated the lease of the posh Hotel Sahara Star and threatened on Friday to seize the prime property situated outside Mumbai Airport.
The AAI Western Region (AAI-WR) slapped a notice terminating the 2002 lease agreement and warning of the consequences for alleged failure on the part of Sahara Hospitality Ltd (SHL) to pay up the outstanding lease dues.
A SHL spokesperson confirmed to IANS that they had received the AAI notice and said: "We are taking appropriate measures to resolve the matter."
The AAI had already sent a notice to recover the lease amount on November 22, demanding SHL to clear the outstanding amount within a week but the latter failed to comply.
In the latest notice on Friday, signed and issued in the name of AAI-WR's Regional Executive Director Keshava Sharma, it said that since the SHL did not clear the lease dues, the lease agreement of June 5, 2002, for a period of 29 years, was terminated.
It called upon the SHL to clear all the pending dues running into Rs 20 crore, pending since the past three years or so, by the evening of December 14 and hand over peaceful possession of the entire premises to the AAI.
30/12/18 IANS/Economic Times